Colorado § 43-3-203 - Bonds authorized.
Full text of Colorado Colorado Revised Statutes § 43-3-203 — Bonds authorized., with citation guidance and answers to common questions.
§ 43-3-203. Bonds authorized.
(1) For the purpose of defraying the cost of constructing, improving, or reconstructing any such turnpike and all expenses incidental thereto, including all engineering and legal fees and interest during construction and for one year thereafter, the department of transportation may, upon the affirmative majority vote of the entire membership of the transportation commission and with the approval of the general assembly evidenced by joint resolution of the senate and house of representatives, and signed by the governor, issue bonds of the state of Colorado, payable from a fund consisting of the fees, fares, and tolls derived from any designated turnpike project and with the approval of the general assembly evidenced by joint resolution of the senate and house of representatives, additionally secured by a pledge of and payable from a special fund set aside from the state highway fund, but the amount so set aside and pledged shall not exceed in any one year one hundred percent of the total of the following:
(a) The amount of principal and interest falling due during such year; and
(b) The amount required to be paid into the special sinking fund as a reasonable reserve for the payment of the bonds authorized in this part 2 in accordance with the resolution of the transportation commission authorizing their issuance as approved by the joint resolution of the senate and house of representatives.
Source: L. 49: p. 603, § 3. CSA: C. 143, § 125(3). CRS 53: 120-8-3. L. 54: p. 155, § 4. L. 56, Ex. Sess.: p. 38, § 4. C.R.S. 1963: § 120-8-3. L. 84: IP(1) amended, p. 1112, § 2, effective April 9. L. 91: IP(1) and (1)(b) amended, p. 1113, § 163, effective July 1. L. 96: Entire section amended, p. 463, § 3, effective April 23.
Cross references: For presentation of resolutions to the governor, see § 39 of art. V, Colo. Const.
ANNOTATION
The bonds provided in this article do not create a debt of the state prohibited by §§ 3 and 4 of art. XI, Colo. Const. Watrous v. Golden Chamber of Commerce, 121 Colo. 521, 218 P.2d 498 (1950).
Frequently Asked Questions About Colorado § 43-3-203
What does Colorado Revised Statutes § 43-3-203 cover?
Section 43-3-203 ("Bonds authorized.") is part of the Colorado Revised Statutes, the codified statutory law of Colorado. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Colorado § 43-3-203?
A common citation format is "Colorado Revised Statutes § 43-3-203" (Colorado). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Colorado law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Colorado official source linked on this page or consult a licensed Colorado attorney.
How does Colorado § 43-3-203 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Colorado can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Colorado.